CLOCKING OUT significant risks , such as liability for serious harm or contractor insolvency .
4 . Not enough use of data
Despite the various drawbacks associated with eTendering , the future of tender management very much lies in digital solutions that can provide buyers and suppliers alike with the best and most up-to-date information . However , many businesses are being held back by their overreliance on historical tender data and outdated tender text libraries . This means that suppliers run the risk of providing inaccurate information in bids , which buyers may then make poor decisions that the issuing of contracts is based on . As a result , the tender management process can become disjointed , potentially leading to a drop in standards for project delivery .
The answer is a tender management platform that combines compliance checking and eTendering , which ensures buyers have access to pre-qualified suppliers without breaking the bank .
5 . Tenders set to rise
The various technological challenges that suppliers face are exacerbated by the fact that the number of available tenders are set to increase in the years ahead . According to the House of Commons Library , published budgets suggest procurement spending increased by around 5 % in 2023 / 24 , and is anticipated to rise by a further 3 % in 2024 / 25 .
By harnessing such technology , main contractors can drive efficiency in tendering and compliance checking alike , saving significant time and money in the process , and revolutionising the e-Tendering process across the industry .
process . This , for example , includes the ability to link tendering with compliance checking , so that subcontractors can be brought onboard at speed , with all the relevant background checks being carried out with ease . Through the most advanced platforms on the market , main contractors can gain access to internal performance indicators that guarantee all new subcontractors introduced into their system are done so within a matter of days , rather than over the course of weeks .
By harnessing such technology , main contractors can drive efficiency in tendering and compliance checking alike , saving significant time and money in the process , and revolutionising the e-Tendering process across the industry . �
Of course , the number of tenders on offer can be a good thing for suppliers but can be overwhelming if they lack an effective solution for keeping track of the various opportunities on offer . On top of this , the resulting increased workload can place a significant strain on main contractor tender teams , which can also be challenging if they don ’ t have the right tools at their disposal .
A better way of working
These challenges not only highlight the ineffectiveness of many eTendering portals currently at main contractors ’ disposal , but also the need to provide a more efficient and effective process for securing subcontractor packages . As such , contractors should seek out platforms that give proper consideration to their needs and challenges , and which provide all the tools that they need to streamline the procurement
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